An Evaluation of the EBRD’s engagement in economies more advanced in transition (2010-2024)

This evaluation provide a thematic assessment of the relevance, additionality and demonstration effects of the EBRD’s engagement in a selected group of economies that are “more” advanced in transition.

The evaluation found that the Bank was extremely relevant to its clients, shaping markets, absorbing shocks, repairing markets and promoting innovation and standards that mobilised investment beyond its own financing. In advanced markets, additionality was increasingly systemic and cumulative, delivered through risk-bearing finance, innovation, signalling, standards and policy engagement. Demonstration effects were strongest where the EBRD combined first-mover transactions, local presence and repeat engagements that turned innovation into market practice.